Transport for London gets £1.6bn Government bailout

摘要

TRANSPORT for London has secured £ 1.6billion in loans and grants from the Government to keep services running as it faces a loss of £4bn in revenue because of the Covid-19 outbreak. TfL says running its network of trains, trams and buses costs around £ 600million per month, but has seen revenue plunge by around 90% since the March 23 lockdown. To reduce overheads, TfL furloughed 7,000 staff, suspended 300 major construction projects, and also suspended the congestion charge to road users to allow key workers to use cars rather than limited public transport. TfL generates its own revenue and gets no subsidy from Government.